What can you do with your empty garage? Looking to earn some extra income? You might be able to post your driveway or garage for rent.
*This post was in collaboration with Fat Joe Publishing.
Renting out your driveway can make you some more money, but you may be questioning whether you are lawfully authorised to do so, or how you are going to defeat any other type of obstacles. We have some information to assist you, so read on.
The first possible problem is whether you are the proprietor of the property. If you own the property, you have nothing to fret about when it comes to placing an advert for your garage. If you rent the property, this is a hurdle you need to get over, but it is not a deal-breaker. It is a good idea to speak to your landlord and get their permission. You will find that most landlords will be more than happy to provide you with support, but they may want to take a cut of the money, so do put this in mind.
An additional thing to consider is whether you have a key or fob or code to access the car parking space. To list your sport, you must communicate with the driver to discuss this and the steps to take. Once the person has settled for the booking, you should give the code if needed.
Lastly, you may be querying whether you require planning permission. The great news is, you probably won’t! The council state you are not required to possess planning permission for renting out a space in your garage or your own private car parking space. Some councils may assume you do, but you can test them by guiding them in the direction of the government’s guidelines.
Some mistakes to avoid!
Renting out your garage may be something you are considering. However, you may be a bit unsure regarding how to go about it, especially if you have never rented out any type of space before. Below, we take a look at some of the most common mistakes that need to be avoided.
One of the biggest mistakes that people make is getting the price wrong. This is understandable. It can be very difficult to price a garage spot, especially if you don’t know anyone who has rented out his or her garage in your area. The most advisable thing to do is to spend some time doing research on the web. See what garage spots are going for in your location so that you can get the price right.
Another thing that will influence the rental price is any security features your garage offers, giving your tenants an extra degree of protection. You will be surprised by how much this can actually add to the price. People are going to be willing to pay more for a well-secured garage than they are for a car parking spot.
Don’t rent out your garage if it is broken either! Make sure you get in touch with garage door repair companies before you post your garage advert.
Another error is failing to put a written contract together. You need to make sure that you are both on the same page and that there is something written down so that you can refer to it if any disputes arise.
On a final note, do not ignore your neighbors’ feelings. If you both have the same double driveway, you do need to inform them.
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